Timbercreek Mortgage Investment Corporation Announces Closing of Offering of Class A Shares

Toronto Stock Exchange: TMC

TORONTO, Sept. 16, 2011 /CNW/ - Timbercreek Mortgage Investment Corporation (the "Fund") announced today it has completed its public offering of 10,120,000 Class A Shares of the Fund, which includes an additional 1,320,000 Class A Shares that were issued pursuant to the exercise of the over-allotment option (the "Offering Shares") for gross proceeds to the Fund of $101,200,000. The Offering Shares were offered to the public by a syndicate of agents co-led by Raymond James Ltd. and BMO Capital Markets, and including CIBC World Markets Inc., RBC Capital Markets, GMP Securities L.P., Manulife Securities Incorporated, TD Securities Inc., HSBC Securities (Canada) Inc., Scotia Capital Inc., Macquarie Capital Markets Canada Ltd., Canaccord Genuity Corp. and M Partners Inc.

The Fund was launched in July 2008 to provide investors an opportunity to invest indirectly, by holding shares of the Fund, in mortgage loan investments ("Mortgage Assets") selected and determined to be high quality by the Fund Manager. The Fund intends to grow its portfolio of Mortgage Assets from time to time by filing additional supplements to its base shelf prospectus in order to raise additional capital.

The investment objective of the Fund is, with a primary focus on capital preservation, to acquire and maintain a diversified portfolio of Mortgage Assets that generates attractive, stable returns in order to permit the Fund to pay monthly distributions to its shareholders. The Fund Manager targets an aggregate annualized yield (net of all fees and expenses of the Fund) equal to the then current yield to maturity on the 2 year Government of Canada bond yield plus 550 basis points. Since inception, the Fund has exceeded this targeted yield.

This press release contains forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results, performance and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

SOURCE Timbercreek Mortgage Investment Corporation

For further information:

Timbercreek Asset Management Ltd.
Carrie Morris
416-306-9967 x250
cmorris@timbercreekfunds.com

Profil de l'entreprise

Timbercreek Mortgage Investment Corporation

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.